Given the following information, calculate the net operating income assuming below$-$the$-$line treatment of capital expenditures? $($Show all work$)(3$ points$)$ Property: four office units, Contract Rents per unit: $$7,200$ per month, Vacancy, and collection losses: $6\mathrm{.}5\%,$ Operating Expenses: $$85,000$ per year, Capital Expenditures: $6\%$ of NOI: